For multi-story like what Champion Commercial is selling, the economies of scale kick in with more than 50 units -- and for that, I'd recommend looking at office-zoned land in Raleigh, which now broadly allows apartments.

@Jim Cran try contacting the Neighborhood Development Corp for the area that the house is in. http://www.clevelandnp.org/cleveland-cdcs/    They should be able to give you direction as far as working with Cleveland Building & Housing, financing and may even help champion your project along.  

We are happy to have you as a champion for the platform. 

Here's what I'm thinking of doing for this tenant:  To address the floors, I will or  have my representative place tennis balls, socks or something soft  to minimize further damage. 2.

Studio condo, 500 sf, HOA of $356(all bills paid), amenities include on-site fitness, sauna, covered parking, laundry on same floor, pool, basketball/tennis court, and fully furnished.

I'm sure some of the champions of this strategy will be along to go into more detail about it for you shortly.Adam

If you in or around Austin you might see me running, biking or playing tennis in various locations.

Champion 4 is the best toilet your money can buy. 1.6 Gal cost about $200.

I try to put the photos in order of attraction first, followed by the sports, football, golf, fishing tennis etc, then parks and recreation near the land or in the area and finally a lot plan or possibly even a photo of the land itself (if is is clean and tidy) but a photo of the land is not necessary.Next, imbed a google map in your add if possible (if not then a link to the google IP address for your land).

But yes, unless you are a VRBO champion, nothing in downtown Austin is a great cash flow investment.